Pixelworks (NASDAQ:PXLW) Issues Q3 2024 Earnings Guidance

Pixelworks (NASDAQ:PXLW) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.140–0.110 for the period, compared to the consensus earnings per share estimate of -0.110. The company issued revenue guidance of $9.0 million-$10.0 million, compared to the consensus revenue estimate of $11.8 million.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PXLW. StockNews.com cut Pixelworks from a hold rating to a sell rating in a report on Friday. Roth Mkm lowered their target price on Pixelworks from $3.00 to $2.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Needham & Company LLC reduced their price target on shares of Pixelworks from $2.50 to $2.00 and set a buy rating on the stock in a research note on Thursday. Finally, Craig Hallum lowered their price objective on shares of Pixelworks from $4.00 to $3.00 and set a buy rating for the company in a research report on Wednesday, May 15th.

Pixelworks Trading Down 1.2 %

Shares of PXLW stock traded down $0.01 during mid-day trading on Friday, hitting $0.84. The company’s stock had a trading volume of 311,814 shares, compared to its average volume of 256,184. The company’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $1.71. Pixelworks has a 52 week low of $0.80 and a 52 week high of $3.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.51 and a current ratio of 4.78. The company has a market cap of $48.53 million, a PE ratio of -2.15 and a beta of 1.63.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Tuesday, May 14th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $16.05 million for the quarter, compared to the consensus estimate of $16.00 million. Pixelworks had a negative net margin of 33.22% and a negative return on equity of 55.94%. As a group, equities research analysts expect that Pixelworks will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Pixelworks

In other Pixelworks news, CEO Todd Debonis sold 24,842 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $1.15, for a total transaction of $28,568.30. Following the completion of the sale, the chief executive officer now directly owns 1,765,223 shares of the company’s stock, valued at approximately $2,030,006.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.70% of the stock is currently owned by company insiders.

About Pixelworks

Pixelworks, Inc, together with its subsidiaries, develops and markets semiconductor and software solutions for mobile, home and enterprise, and cinema markets in the United States, Japan, China, Taiwan, Korea, and Europe. The company offers imageprocessor integrated circuits, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; visual processor integrated circuits that works with a mobile application processor; and transcoder integrated circuits which includes software that control the operations and signal processing for converting multiple bitrates, resolutions and codecs to provide bandwidth efficient video transmissions based on industry standard protocols.